Ares Commercial Real Estate: Q1 Earnings Snapshot
May 4, 2021
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NEW YORK (AP) Ares Commercial Real Estate Corp. (ACRE) on Tuesday reported first-quarter net income of $15.7 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the New York-based company said it had net income of 45 cents. Earnings, adjusted for non-recurring gains, were 40 cents per share.
The real estate investment trust posted revenue of $21.2 million in the period. Its adjusted revenue was $30.7 million.
Ares Commercial Real Estate shares have increased 24% since the beginning of the year. The stock has increased 90% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACRE at https://www.zacks.com/ap/ACRE